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Multi-unit business enterprise replaced small traditional enterprise when administrative coordination permitted greater productivity, lower costs, and higher profits than coordination by market mechanisms.

— Alfred D. Chandler Jr. The Visible Hand (1977)

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More quotes by Alfred D. Chandler Jr.

Men's mind and abilities grow and expand with use of responsibilities.

The Visible Hand (1977)

To maintain and continue a high volume of flow demanded organizational innovation. It would be achieved only by creating an administrative hierarchy operated by many full-time salaried managers.

The Visible Hand (1977)

Effective coordination of throughput required the placing of vigorous management controls over these despots.

The Visible Hand (1977)

Modern factory management (but not it must be stressed the management of large modern multi-unit enterprises) had the genesis in the United States in the Springfield Armory.

The Visible Hand (1977)

Complete accountability is established and enforced throughout; and if there there is any error committed, it will be discovered on a comparison with the books and can be traced to its source.

The Visible Hand (1977)

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Quote text and notes from Wikiquote: Alfred D. Chandler Jr. (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.